When you think of the South African rand compared to the pound, for example, you don’t exactly see gold. But that is precisely the history behind the name of our currency.
As the rand slowly decreases in value, placing investors in a tight spot, financial advisors are predicting an eventual increase, possibly even reaching a single digit.
President Jacob Zuma made a very cool announcement this weekend on the 22nd anniversary of Nelson Mandela’s release from prison. Towards the end of this year South Africa will get a series of new bank notes which will have Madiba’s image as the main illustration instead of the animals we’ve come to know.